Thinking Beyond Automation: The Human Touch

June 2nd, 2020

Is Your Company Prepared with the Human Touch?

Every person and company needs the human touch once in a while. That truth has been especially palpable throughout this unsettling global phenomenon that humanity is currently fighting through. From the compassion showed by our first responders and medical professionals to the dedication on display by delivery drivers and sanitation staff, the human touch is what keeps us safe every day. This same principle holds true regarding compliance automation. Enormous leaps forward have already been achieved through smart adaptations of artificial intelligence and machine learning, and these technologies are constantly getting smarter. At the same time, however, compliance professionals must not be lulled into a false sense of security.

Automated compliance screening solutions are not perfect and regulators have signaled quite plainly that automation is not a replacement for human insight and expertise. Legal and compliance professionals who adopt a “set it and forget it” mentality are potentially leaving their companies exposed to oversights that could spell disaster down the road.

Even during the COVID-19 pandemic, enforcement efforts have not subsided in any meaningful way. Government enforcement agencies have transitioned to online formats, and they are continuing to enforce corruption and sanctions laws despite the unfolding crisis. Trend lines show the frequency of anticorruption and sanctions enforcement actions (and total fine amounts) increasing over time. As COVID-19 so plainly demonstrates, only the most prepared companies will weather the storm. Supply-chain disruptions and shuffling business engagements are already leading to new and rearranged third-party relationships. While government enforcement agencies have undoubtedly come to expect that companies maintain accurate and up-to-date third-party screening procedures, even the best screening technologies must be accompanied by those real human insights when the perceived risk levels are great enough. Will your company be prepared with the human touch? This white paper explores recent trends in global enforcement and legal guidance before turning to several best practices useful in bridging the gap between breakthrough compliance technologies and classic compliance know-how.

This white paper highlights:

  • Global Regulatory Update
  • How to Identify the Scenarios Where Screening is Not Enough
  • How to Examine and Define Third Parties Based on:
    • Basic Characteristics
    • Type of Work
    • Ownership Structure
    • Financial and Political Associations


Download our white paper below.